Wigton Windfarm’s profit upgraded

Wigton IPO propectus is out.

Net profit for the nine months to December 2018 for Wigton ended at J$730 million compared to $1 billion reported in 2017 before taxation.
IC Insider.com now projects normalized earnings for the 2019 fiscal year between $600-700 million resulting in earnings per share of 6 cents. As earnings for the above periods, include foreign exchange gains and losses. Included in other income is $552 million to December 2018 of foreign exchange gains and in Finance cost, $748 million, in foreign exchange losses. With the company repaying the foreign currency loans, the main source of foreign exchange gains or losses no longer exits, hence the need to normalize results without them.
Based on the updated earnings, with the price of the stock at 50 cents each, the PE ratio is now
8.5, valuing the company at just $5.5 billion. The stock now sits at number 4 on IC Insider.com TOP 10 main market stocks, making it more attractive than the value based on the projection to March this year, included in the public bodies’ document.
Wigton Windfarm IPO out very soon” an article published last week is running at the number one best read article on IC Insider.com and represents a clear sign of the popularity of the issue that opens on April 17.
IC Insider has now updated certain aspect of a second article, Wigton Windfarm IPO prospectus is out, carrying a more detailed look at the offer, and is proving to be quite popular but running well behind the first one currently.The lead broker for the IPO is Mayberry Investments.

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